Craig Hallum Cuts TechTarget (NASDAQ:TTGT) Price Target to $25.00

TechTarget (NASDAQ:TTGT) had its target price cut by Craig Hallum from $40.00 to $25.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the information services provider’s stock.

A number of other analysts also recently weighed in on the stock. StockNews.com began coverage on shares of TechTarget in a report on Thursday, January 9th. They issued a “hold” rating for the company. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of TechTarget in a research note on Wednesday, November 13th. Lake Street Capital lowered their price target on TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, December 30th. Finally, KeyCorp reduced their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, TechTarget currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

TechTarget Trading Up 2.6 %

Shares of NASDAQ:TTGT opened at $17.89 on Tuesday. TechTarget has a 52-week low of $17.21 and a 52-week high of $33.08. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The company has a market cap of $523.10 million, a P/E ratio of -42.60, a P/E/G ratio of 9.11 and a beta of 1.04. The stock’s 50-day moving average is $24.04 and its 200-day moving average is $26.53.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The company had revenue of $58.47 million for the quarter, compared to the consensus estimate of $58.14 million. During the same period in the previous year, the business posted $0.13 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts predict that TechTarget will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On TechTarget

Hedge funds have recently modified their holdings of the stock. BOKF NA bought a new stake in TechTarget in the second quarter valued at $239,000. The Manufacturers Life Insurance Company boosted its stake in shares of TechTarget by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after purchasing an additional 430 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of TechTarget in the 3rd quarter worth about $245,000. Intech Investment Management LLC acquired a new stake in shares of TechTarget during the 3rd quarter worth about $257,000. Finally, Quest Partners LLC bought a new position in TechTarget during the 3rd quarter valued at about $272,000. 93.52% of the stock is owned by institutional investors and hedge funds.

About TechTarget

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for business-to-business technology companies in North America and internationally. The company's service enables technology vendors to identify, reach, and influence corporate information technology (IT) decision-makers actively researching specific IT purchases; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.